Last updated on July 21st, 2023 at 09:00 pm
What is a Bitcoin Halving?
A Bitcoin halving is an event when the reward for Bitcoin mining transactions is cut in half. In other words, the amount of Bitcoin rewarded to miners for each block mined is halved. This occurs every 210,000 blocks mined.
Since the Bitcoin mining algorithm is set to find new blocks every 10 minutes (which has some degree of fluctuation), these events happen approximately every four years.
When is the Next Halving?
The next Bitcoin halving is expected to happen in April or May 2024, when the block reward will be reduced from 6.25 to 3.125 BTC.
Bitcoin Halving History
Pre-Halving Period (Genesis)
Block Number: 0
Block Reward: 50 BTC
Approx. BTC Mined Per Day: 7200
Halving #1
Block Number: 210,000
Block Reward: 25 BTC
Approx. BTC Mined Per Day: 3,600
Price on Halving Day: $12.35
Halving #2
Block Number: 420,000
Block Reward: 12.5 BTC
Approx. BTC Mined Per Day: 1,800
Price on Halving Day: $650.63
% Change From Last Halving: +5,211.27%
Halving #3
Block Number: 630,000
Block Reward: 6.25 BTC
Approx. BTC Mined Per Day: 900
Price on Halving Day: $10,943.00
% Change From Last Halving: +1,581.91%
Halving #4
Block Number: 840,000
Block Reward: 3.125 BTC
Approx. BTC Mined Per Day: 450
Price on Halving Day: ?
% Change From Last Halving: ?
Halving #5
Block Number: 1,050,000
Block Reward: 1.5625 BTC
Approx. BTC Mined Per Day: 225
Price on Halving Day: ?
% Change From Last Halving: ?
Future Bitcoin Halvings
Bitcoin halvings will continue until the block reward becomes equal to zero. When this happens, the only reward miners will receive are the commissions included in each block.
Approximate Time Until Next Halving:
128 days 8 hours 20 minutes 28 seconds
ETA date: 28 Apr 2024 02:22:17 UTC
Will Bitcoin Go Up or Down After Halving?
The Bitcoin price historically increases in the lead-up to each halving and then declines sometime after the event. It is our human nature is to look for a catalyst to drive the price. Driving the price up is the basic economic principle of supply and demand, as well as the difficulty to mine each Bitcoin block, which is always increasing. This requires more computing power and electricity costs. Miners want to make a profit, so naturally as the cost to mine Bitcoin increases, so does the price.
However, past performance does indicate future results, the price movements of each halving differ slightly from the previous.
